In part 1 I provided a list of job opportunities that I believe will be growing in demand for many years.
In this article, I'm going to continue providing details to support my assumptions.
2. Appliance/ Automotive/ Home Repair
The credit crisis is here to stay. Consumers are tapped out, with no savings and no credit from credit cards or home equity loans.
The credit crisis translated into household consumer demands means that the “throw it away and get a new one” trend is all but over and is in the process of being replaced with the “if there is any way to fix it, then fix it” trend.
Household tools are going to be in growing demand as people try to fix-it themselves before calling someone or buying a new one. If we cannot fix-it ourselves, then we will find someone that can.
This will also change the way consumers purchase items, because consumers will be thinking long term and about the cost of maintenance into their purchasing decisions. They will purchase higher quality items when they believe they will save money in the long run. This will also increase the quality of products being produced.
The millions of foreclosed homes on the market today are getting older by the day and they all need to be maintained. Homes are very expensive to purchase and even more expensive to maintain.
During the housing boom, very few people thought about home maintenance because they were thinking short term – selling in a few years. But now people are realizing they are probably going to be living longer in their homes and need to take the cost of maintenance into consideration. (Home Depot and competitors should benefit from the large number of homes that need maintenance)
Because of the deepening recession, fewer new homes and cars are going to be built in the next decade then were built in the last decade. Maintenance of these items are going to be a growing business.
In short, the repair business will be growing in demand. The need to repair everything from furniture to shoes to car brakes to roof shingles will be in demand.
If you are looking for a job, consider working for a repair businesses or starting your own repair business.
In Part 4, I’ll continue providing detail about these jobs and why I think demand will continue to grow.